Mark Cuban: Bitcoin is not a currency, but a store of value

Billionaire Mark Cuban told the Defiant podcast that he does not believe Bitcoin can become a full-fledged currency. He regards digital gold as a store of value, not a means of payment.

The investor described the current fiat system as insolvent and unstable, but doubted its collapse. He argued that countries should issue their own digital currencies because of the high costs of issuing ordinary money.

The advent of smart contracts marked a turning point for the crypto industry, the billionaire said. With them and decentralized finance, the future belongs to Ethereum, which has the edge over Bitcoin, Cuban concluded.

In January 2021, the billionaire expressed confidence in Bitcoin’s ability to ride out the ‘dot-com bubble’ much like Amazon, eBay and Priceline during the dot-com boom.

Earlier, philosopher Nassim Taleb said that Bitcoin did not become a means of payment.

Follow ForkLog’s news on Telegram: ForkLog Feed — all the news, ForkLog — the most important news and polls.